NEW YORK (TheStreet) -- With oil prices once again climbing, small-cap oil stocks were going through the roof Friday.
Topping the winners list was Lucas Energy (LEI), which was soaring 34% to $4.24. Volumes touched 14 million in mid-day trading. Average volumes in the last three months have been around 800,000.
This stock has climbed nearly 60% over the past week not including Friday's move. Earlier in the week, the oil company reported the completion of a Hilcorp Energy-operated Eagle Ford horizontal well. The well is expected to be put on production in a few weeks and Lucas expects it to meet or exceed expectations of 500 barrels of oil per day. Earlier, in February the company reported that the well had tested 350 BOPD of light sweet crude.
Shares of Royale Energy (ROYL) were rebounding after falling sharply on Thursday. The stock was up 7.6% to $7.59. Action has been particularly volatile in this $77 million market cap stock. Shares are up 40% this week, despite a 10% drop Thursday.Samson Oil & Gas (SSN) has also been moving up sharply on higher-than-average volumes, up 7.6% on Friday to $3.96. The gainers Friday also included more lesser-known names such as Tengasco Energy (TGC) and Ram Energy Resources (RAME), which were gaining 27% to $1.22 and 20% to $2.26 respectively. Outside of oil sector, shares of Spreadtrum Communications (SPRD) touched an all-time high Friday after the semiconductor company reported better-than-expected fourth quarter results and forecast first-quarter-revenue above estimates. The stock was up 6% at $22.92. Radioshack (RSH) was another notable gainer. On Thursday, Anthony Scaramucci of Skybridge Capital told CNBC the stock sell off on concerns of declining sales was overdone and that it could go up to $22 on a standalone basis. --Written by Shanthi Bharatwaj in New York
>To contact the writer of this article, click here: Shanthi Bharatwaj. >To follow the writer on Twitter, go to http://twitter.com/shavenk. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV